In my view their value lies in indirectly forcing you to take recent volatility into account when setting targets (as in "enter long at PP, sell at R1", etc.), but to think that the market is going to turn at this or that point, well... not my cup of tea.
And another b/e stop. Lesson for leaving initial position with initial stop and initial target and walking away... To quote my friend tlow: "I coulda scalped 10 ticks off both those trades."